Scatec ASA (OTCPK:STECF)

$ 13.3 0 (0%) Market Cap: 1.16 Bil Enterprise Value: 3.35 Bil PE Ratio: 6.76 PB Ratio: 1.26 GF Score: 91/100

Q2 2023 Scatec ASA Earnings Call Transcript

Aug 18, 2023 / 07:00AM GMT

Release Date Price: $13.3

Transcript

Terje Pilskog

Scatec ASA - CEO

Welcome, everybody, to the press presentation of our second quarter results. It's good to see you all, and it's a privilege for me to present another strong quarter for Scatec. We have had strong progress on our construction activities with visible earnings impact. We have closed the sale of Upington. We have started selling energy in the merchant market for our largest plant in Ukraine. We have divested our project in Mozambique, and they reached financial close of Grootfontein in South Africa, a 273-megawatt project.

We also implemented our cost reduction program that we announced in the first quarter, and we raised NOK 1 billion in funding for release, gaining a strong financial partner to support the further growth of the venture. And this is a major milestone for Release, really showing the value that has been created by the team so far.

On the organization side, I would like to welcome Mohamed Amer as new EVP for Green Hydrogen in Egypt. He has been instrumental in building the position that we have in Egypt and also building the position that we

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